HIGHLANDS COTTAGE CHARITY
(Registered No 1012785)
Registered addrth8- Follifoot House, Amberleys Stroud, GL5 SAG
TRUSTEES THtRTY-THIRD ANNUAL REPORT 202312024
l. Introduction.
(a) Governing Document: The Charity was founded in 1992 by Miss Mary Layard White, fomierly of
Highlands Cottage, Pinfarthings, Amberlcy. The Trust Deed was completed on 27 April 1992 and
made between Mary Layard White, James Albert Meadows, Anne Elisabeth Seymour, Anne de
Halpert and Peter Duff Abbott Hankins. A supplemental Trust Deed was entered into on the 10th
November 2016 and made between the continuing Trust¢es, namely: Peter Duff Abbott Hankins,
Vivian Leivers, Roger Jefftey Bush. Richard James William Wood, Susan Jane Page, Beryl Anne
Phillips and Michael John Bullock.
O)) Names of the current Trustees: Pet¢r Duff Abbott Hankins, Vivian Leivers, Roger Jeffrey Bush.
Richard James William Wood, Susan Jane Page, Beryl Anne Phillips and Sandra Jane Lampard
(c) Names and addresses of adviscrs to the Charity:
l. Independent Examiner: Mrs Penny Loe, Chartered AccountanL Edgecombe, Amberley, GL5 SAB
2. Solicitors: WSP Solicitors, 317 Rowcroft, Stroud, GL5 3BJ and Willans LLP, 28 Imperial Square,
Cheltenham. GL50 1 RH
3. Bankers: Lloyds Bank, 12 Rowcroll Stroud, GL5 3BD
4. Managing Agents: Bennett Jones Partnership, 31 Parsonage Street, Dursley, GLI 14BW
5. Architect: Chris Stone, Quadr￿ Nethercou¢ Hyde, Stroud. GL6 8NZ
2. Charitable Objects.
The income of the said Trust Fund and such of the property as the Trustees shall direcL shall be used
for charitable purposes for the benefit of the inhabitants of the Parish of Amberley and the contiguous
parishes thereof, including but not confined to the following purposes:
(l) The provision of a house or other suitable accommodation for a Minister or Curatc of the Church of
England or other paid Church worker in the Parish
(2) The provision of a house or other suitable accommodation for the poor andlr needy in the Parish
and the contiguous parishes. "Needy" shall rnean those in need by reason of youth, age, ill-health,
disability, financial or other disadvantage.
(3) The provision of a house or other suitable accommodation for an employee of Amberley Parochial
Church School or any other ¢ducational establishm¢nt in the Parish.
In administering the charity, the Trustees have considered the Charity Commission's general guidance
on Public Benefit and consider the Charity is fulfilling its objects and public benefit requirement by
providing subsidised housing to people in need in the Parish of Amberley and its contiguous Parishes.
Accounting Principles.
In accordance with the Charity Commissioners guidelines, the treasurer has adopted the following
principles:
(l) Best use of expendable funds, Continuing to maintain all its propety and fixtures to a reasonable
standard.
(2) The rental income is paid to Lloyds Bank monthly and the sums are transferred between Lloyds
Bank Investment Accounts {whcn available) andlor into COIF Charities Deposit Fund thereby
gaining the benefit of the best available interest rates

4. Investment Policy.
(a) The Trustees continue to consider tbat the yields on investments, represented by the rental incom¢
at rntes advised by the Managing Agent and the Council Rent Office, ar¢ reasonable and are
p¢riodically reviewed and increased in line with inflation. See also note 7 (c).
(b) During the current year the Trustees continue to invest in COIF Charity Accounts. However, they
have not continued to make short tcnn investments with Lloyds Bank wher¢ the minimum
investmen( albeit for a defined short period of time. would leav¢ insufficient funds to meet any
major uneX￿d cost.
(c) The Trustees believe that the investment accounts are well managed.
Permanent Endowments.
There have been no changes during the current year
Trustees.
(a) The Trustees are all appointed in accordance with the Governing Trust InstrLunents.
(b) Vesting of Assets. Thc properties known as New Lodge, Little Lodge and BRackwell Cottage remain
vestcd as heretofore. The Chairn]an and the Treasurer hold the Investment Funds.
(c) The Trustees have met fonnally throughout the year. The general maintenance of the properties is
constantly under review and an ongoing plan of maintenance / repair is in place.
(d) The Accounts, drawn up by our Independent Examincr, for the year to 31 July 2024 are included
with this report.
Activities
This year we have received a full year's r¢nt on all our properties which has enabled the Trustees
to continue to maintain reserves whilst at the sam¢ time to support a pro-active programme of
repairs and improvements to all properties; in addition, a significant refurbishment of Flat 3, New
Lodge was b¢gun with a re-fit of the bathroom and extensive damp prevention work.
(a) New Lodge
Flat I
The flat has been fully tenanted this year requiring only minor maintenance issues which are
covered by our monthly small maintenance budget. There is a budget of £2,000 carricd fonward for
a potential replacement kitchen work top.
Flat 2
The flat has required only minor maintenance which was covered by our monthly small
maintenan¢¢ budget with a budget of £5000 carried forward for kitchen refurbishment.
Flat 3
Rcfurbishment of Flat 3 was started with £ 7,090 spent on stripping out the existing bathroom and
replacing it. removing mould throughout the flat, and damp-blocked and walls painted.
Replacement carpets and storage heaters have been carried forward in our budget at £ 4,600, and
also £4,000 for a replacement water system.
Blaekwell Cottage
Electrical and lighting repairs have been covered by our small expenditure budgeL with a budget
of £1,000 carried forward for wet flooring in the bathroom.
Little Lodge

Maintenance was largely met within our small expenditure budget. £500 was spent in addition, to
supply and fit new th¢rniostats for the undert]oor heating.
(b) Managing Agents
The Trustees have continued to contract thc responsibility of Property Management to a local
company, Bennett Jones Partnership of Dursley. This has proved to be particularly successful and
necessary repairs are being carried out with the minimum of delay. The Trustees continue to
maintain the principle of requiring the managing agents to use local trades people where
practicable. Their monthly fe¢ continues to b¢ £300.
(c) ReDt Review
The Trustees strive to ensure that rents set for the Charity's properties reflect the Objects of the
Charity. It was decided this year to increase rents in August by 20/0 plus CPI and these increases
have been accepted by all tenants.
(d) Charitable Incorporated Organisation
To facilitate management of the Charity for the future, the process of establishing a Charitable
Incorporated Organisation (CIO) continues. The CIO will tske over the activities, asset& and
Itabilities of the cxisting Charity. The CIO has not yet been established due to issues in
communication within and with Lloyds bank. It was hoped that the process would have been
ompleted within this year, however it remains a work in progress with the solicitors and the
(e) General Dats Protection Regulation
During the year the new approach to handling pcrsonal data has come into force under the title of
General Data Protection Regulation. Whilst a mintmal amount of personal data is stored
electronically the Trust does retain data in paper files. During the coming year it is intended to
update the policy on GDPII introducc a new privacy statement and involve tenants in the
infonnation that is r¢tained.
(fj Deposit Protection Scheme
At the commencement of a new tenancy the tenant pays a deposit, against possible breakages or
damage to the property, detennined by the monthly rental. The Trustees place these funds in the
nationally approved Deposit Protection Service where they are protected and outside the current
account and investment funds held by the Trust. Currently, £3,01 l is held on deposit received from
the tenants.
Risk Review.
The Trustecs frequently review the possibl¢ risks to which the charity is exposed and believe that
th¢se are covered by relevant procedures and cash reserves.
Reserves and financial management
The HCC have established the following fmancial reserves policy:
To maintain a reserve calculated as 70 % of the average annual eXpendjtL￿e over the
previous three years (not including major costs of rebuilding and roofing, or mortgage
commitments) to meet the challenge of a disrupted income supply
To maintain a reserve calculated as l 00 /0 of the required annual expenditure on mortgage
commitments in the event of a disrupted income supply
To maintain a sum not less than £5,000 to meet support for tenants unable to remain in
one of the Charity properties due to fire, flood, major repairs etc.

The Trustees calculate that £22,000 is currently needed to meet this policy and there arc sufficient
fi￿d$ within HCC to support this figure.
As part of their financial managemen( HCC have undertaken to
Include in their annual budget a provision for unplanned expenditure equal to 25 % of the
figure budgeted specifically for repairs.
Ensure the proper level of insurance is held to mitigate the effect of loss of rent, damage
to propety and Tn￿tee liability.
Sandra Lampard
Honorary Treasurer
Highlands Cottage Charity
Roger Bush
Chairn]an
Highlands Cottage Charity
Date
202£k

Independent examineVs report to the Trustees of Highlands Cottage Charlty
I report on the accounts of Highlands Cottage ChaTity (The Trust) for the year ended 31
July 2024, ¥thich are set out on pages 6 to 9.
R•8ponslbllllles and ba818 of the report
As the charlty trustees of Ihe Trust, you are responsible for the preparation of the
accounts in accordanc8 With Ihe requirements of Ihe Charities Acl 2011 (the Act).
I report in respect of my examination of the Trusvs accounts carried out under section
145 of the 2011 Act and in carrying out my examination I have followed the applicable
directions glven by the Charity Commission under section 145(5)(b) of the ACL
Independent examlnerfs Btatsmènt
I have completed my examlnation. I confirm that no matters have come to my attention in
connection with my examination giving me cause to believe that in any materlal respect:
accounting records were not kept in respect of the Trust as required by
sectlon 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements conceming the
fomi and content of accounts set out in the Charities (Accounts and Reports)
Regulations 2008 other than any ￿UlTern8nt that the accounts give a true
and fair VI￿ which is not a matter considered as part of an independent
examination.
I have no concems and have come across no other matters In connection with the
examlnatlon to whith attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Penny Loe
PSLoe&Co
Chartered Accountant
Edgecombe, Amberley, Stroud
1 November 2024

HIGHLANDS COThAGE CHARrrY
STATEMENT OF FINANCIAL ACTIVITIES: YEAR ENDED 31ST JULY 2024
Note Desi
nrestnct
Funds
nat8d Total Funds T
Funds
2024
Funds
023
Income
Rents and Ilcence fees
Other incorrE - compensation
Bank and other interest
44,832
44,832
30,256
105
832
1,147
1,147
Total Income
45,979
45,979
30,993
Expenditure
29,990
29,990
36,710
Net Incomel(Expenditure)
for the year
15.989
15,989
(5,717)
Balances brought forward at
1 August 2023
248,973
5,465
254,438
260,155
Transfer between funds
Balances carrled fo￿rd
at 31 Juty 2024
264,962
5,465
270,427
254,438
The notes on pages 8 and 9 form part of these accounts.

BALANCE SHEEf AT 31ST JULY 2024
Note
2024
2023
Flxod Assets
Freehold property
New Lodge and Little Lodge, at cost
413,882
413,882
413.882
72,914
486.796
413,882
72.914
486,796
Blackwell Cottage
Tangible fixed assets- Fumishings and equipment
Cost bff
additions
10,094
10,094
10,094
9.012
271
Depreciation blf
charge for year
9,282
203
9,485
609
487.405
811
487,607
Current Assets
Debtor8 and prepayments
COIF Charities Deposit Fund
Lloyds account
23,201
30,313
22.054
18,807
L5abllltles
Amounts falling due within one year
4,207
4,207
4.002
4,002
Net Cuwrent As80ts
Net A8Bet8
49,307
536,712
38.859
524,468
Long term Ilabllltles
63,197
66,940
473,515
Funds
Endowment
Designated
Unrestrthd
457,526
203,088
5,485
264,962
473,515
203,088
5,465
248,973
457,526
Approved by th Trustees on 7 N
vember 2024 and signed ts behalf by
Roger Bush, Chaimian
The notes on pages 8 and 9 fom part of these accounts.

HIGHLANDS COTTAGE CHARrrY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JULY 2024
1. Aceountlng Pollcle8
a) These financial ststsments have been prepared under the historical cost conve￿10n
and in aCcOrdn￿ wth applicable Accounting Standards, The Chartlies Act 2011 and the
Charities SORP (FRS102)
b) The accruals basis of accounting is used for Income and expenditure.
c) Income is recognised in the period in which the charity is entitled to receipt and the
amount can be measured with reasonable certainty.
d) Depreclation is calculated to wrlte off the cost, less estimated residual values, of
tsngible fixed assets over their estimated useful lives to the scheme. Slnce 1996. fumiture
and equipment has been deP￿lated at 25% pa on the reducing balance method; prior to
1996 such expenditure was written off in the year of purchase. No depreci*ion is provided
on freehold buildings because in the Trustees oplnlon the real (inflation adjusted)
estimated residual value ts not less than the carryiTVJ value in the accounts.
2. Ex￿ndftUrn
2024
2,170
3,600
13,193
2023
1,541
3,354
19,241
2,261
4,926
Prcpety insurance
Propety surveyor and agent
Repairs and maintenance
Utilty bills when property vacant
Legal fees general
Trustee Indemnity insurance
Mortgage interest
Sundries
Independent Examiners fee
Depreciation of fumishings, equlpment
4,429
il
621
5,372
37
360
203
29,990
4,155
360
271
36,710
3. Debtors
20
202
Trade debtors
4. Llabllttle8: Amounts falllng due wlthln one ￿ar
Credltors
Accruals
Repayment due on mortgage - see nots 5
360
3,847
4,207
360
4,002

HIGHLANDS COnAGE cHAR￿y
S. Long tsrm Ilabllftles
A 25 year mortgage of £155,01)O was obtained from Lloyds Bank in order to fund the
development of the Old Cart Shed, in the grounds of New Lodge, completed in February
2011 and now. as Little Lodge, let out as residential accommodation. The mortgage is
secured on another propety owned by the charity, Blackwell Cottage
6. Employoe8' remuneratlon
There were no employees durlng the year
7. TN8tees' rnmuneratlon and expen8e8
No trustee receNed any remuneration or reimbursement of expenses during the year. The trustees
were advlsed that Ihe charity should take out trustee indemnty insurance. this cost £564 {2023: £564)
8. Designated and rostrIc￿ Funds
lance
ent in Resou
Balan
1.8.23 31.7.24
ncomin
oin
Contingency Fund
AE Pash Charitable Trust donation
5,000
465
5,000
465
5,465
There are no restricted fvnds held by the Charty.
The Contingency Fund reflects the Trustees, policy of retaining £5,01)O to meet support for tenants
unable to remain in one of the propertles due to fire, 17ood, major repairs etc.
The Trustees propose to use the donation frorn the AE Pash Charitable Trust, received on
the winding up of that Trus( for a specified purpose, to be detsnnined.
9. Anatysls of not a88ets between funds as at 31 Juty 2024
. ed Net Current L￿ternI
Assets
203,088
Total
2024
203,088
5,465
5,465
43,842
63,197
264,962
63,197
49.307 ￿ 473,515
otal
2023
203,088
5.465
248,973
457,526
Endowment
un
Desi
ated Fund
restrict
284,317
487,405